Relationship between Internal Corporate Governance Mechanisms and Shareholder Value in the Banking Sector in Bangladesh The Mediating Effect of Non-Equity Stakeholders
2020-05-01T13:54:52Z (GMT) by
This study aimed to determine the mediating effects of each of the four non-equity stakeholders on the relationship between internal corporate governance mechanisms and shareholder value. Panel data of 29 out of 30 commercial banks listed on the Dhaka Stock Exchange were used. All the required data were collected from the annual reports or supplementary sources of the respective banks. This study employed the random-effects GLS regression model to examine the relationships between the variables. Subsequently, the “three-step approach” suggested by Baron & Kenny (1986) was used to determine the mediating effect of non-equity stakeholders on the relationship between internal corporate governance mechanisms and shareholder value.